Stocks are up this morning although the strength is mixed with small caps leading and the Dow and S&P 500 bouncing between positive and negative several times already in the first 30 minutes of trading.
Yields are up sharply again which makes it curious why the small caps are leading.
The chatter is that yields are now moving on economic strength and not inflationary concerns.
We get the CPI tomorrow so that may clear things up.
As I mentioned in today's commentary, the technical picture deteriorated after Thursday's negative reversal but the economic data and earnings season may end up telling a different story.
Bookmarks